Tata Power Company Ltd. - Positional Trade

vicky252 Updated   
Date: 18-Mar-2024
Rating: Buy - Positional Trade
LTP: Rs. 392.75
Targets: Rs. 475
SL: Rs. 365

Technical View:
TATAPOWER is in its primary uptrend since Oct-2023.
• After touching a life time high of 433 on 7-Mar-2024, it has retraced up to 16% to 365 level.
TATAPOWER has broke out from its secondary down trend on 18-Mar-2024.
• RSI is at 53.83 and MACD is at 4.85. Both are indicating good momentum and strength to move the price up.

Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Trade closed manually:
Broke down the secondary trend line. Both RSI and MACD are giving bearing view. Closing the call to book profit.
LTP: 436.40
P&L: +11%

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